The deepening economic crisis in the eurozone continued to dominate headlines in 2011, with the IMF participating in controversial lending attached to austerity policies and conditionality requiring privatisation of public services, layoffs in the public sector and wage and pension cuts for vulnerable and poor people. The policies being pursued in Europe are strikingly similar to the structural adjustment programmes pushed in developing countries in the 1980s and 90s, which provided some of the
Analysis
IFI governance
Analysis
Memorandum by the Bretton Woods Project for the UK Treasury Committee
It is widely accepted that global imbalances were a major contributing factor to the recent global financial crisis. In written evidence submitted to the UK Treasury Committee, we argue that there are four main underlying causes and three areas of major reform needed.
Social services
Analysis
Gender WDR
The 2012 World Development Report is a watershed moment: it is the first time that the World Bank, the world's largest and most influential development institution, has devoted its flagship publication to gender. Kate Bedford of the University of Kent argues that the report leaves the Bank failing to face up to its role in perpetuating policies that harm women, and is seriously limited in its approach to women's movements, markets, and households.
Finance
Analysis
Breaking the mould
Argentina, Brazil and Costa Rica are among the countries that have recently implemented capital account regulations. This report reviews the evidence available on the impact of their measures, providing evidence of the usefulness of capital account regulations not only in achieving financial stability but also in preventing unwarranted appreciation of the exchange rate and increasing monetary policy space.
Finance
Analysis
Time for a new consensus
This report explains the drawbacks, especially for development, of policies to deregulate the movement of money across borders, and makes suggestions for a new pragmatic approach to regulation of financial flows to ensure stability and development.
Infrastructure
Analysis
No fairy tale
As debates continue at the World Bank about its lending for new coal-fired power plants, residents of the Indian district of Singrauli, the country's coal capital, still live with the lasting social and environmental impacts of decades of coal-related projects and ask why the Bank has never returned to fully address what has been left in the wake of its investments in the region.
Environment
Analysis
Climate Investment Funds Monitor 4
The Climate Investment Funds (CIFs) are financing instruments designed to pilot low-carbon and climate-resilient development through the multilateral development banks (MDBs). They are comprised of two trust funds - the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).
Infrastructure
Analysis
Power surge
This paper about energy and women in India highlights examples from visits to NGO projects, social entrepreneurs and social movements in five Indian states over the course of three months, as well as conversations with energy and women rights experts. The paper then highlights lessons drawn from field visits and what they mean for the development community with particular focus on the World Bank.
Rights
Analysis
Navigating complex dilemmas
The World Development Report 2011: Conflict, Security and Development is shifting the language of international policy on supporting peace and development in fragile and conflict-affected countries. Monica Stephen of International Alert examines how the World Bank's operations need to adjust to support peace and development.
Accountability
Analysis
The IFIs in 2010: year in review
2010 was a year of uncertainty for the global economy. While many countries, particularly emerging markets, emerged from recession, public finances deteriorated across the globe as governments struggled to recover from the recent crisis. The troubles of the Eurozone dominated the headlines, but this only reflected the continued fragility of many countries still reeling from the biggest depression since the 1930s. The ongoing impacts of the recession remained high, particularly on the poor and vu
Environment
Analysis
A faulty model?
This paper critically assesses the appropriateness of the Bank-housed Climate Investment Funds (CIFs) as a model for the Green Climate Fund (GCF). It takes proposals and recommendations by civil society groups and uses them as benchmarks to analyse the CIFs. It finds that in terms of institutional arrangements the CIFs have achieved some notable progress, however, in operations and performance there are serious concerns.
IFI governance
Analysis
Question time for candidates! Public debate needed for IMF leadership post
The IMF still needs fundamental reform if it is to be relevant to the global economy of the 21st century and to operate in the interests of ordinary people all over the world. We believe there are 4 key areas where these candidates must answer questions and that these questions should be answered in a public debate among the candidates.
Featured briefings
12 December 2024
The Bretton Woods Observer: Winter 2024
12 December 2024
Missing in action: accountability is noticeably absent from the World Bank Group’s new Corporate Scorecard
The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise, integrate and learn from the work of its accountability mechanisms.
16 October 2024